Hong Kong exports down 3% in March

Double digit export volume declines were recorded to mainland China and India.

The volume of Hong Kong's total exports of goods dipped 3% YoY in March, whilst the volume of imports of goods edged down 2%, data from the Census and Statistics Department (C&SD) revealed.

For Q1 2019, the volume of Hong Kong's total exports of goods slipped 4.2%, whilst the volume of imports of goods fell 5%.

Double-digit declines were recorded in total export volume to mainland China (-12.5%) and India (-12.0%) in March. Concurrently, the total export volume to the US decreased dropped 1.3%.

On the other hand, the total export volume to Japan and Taiwan edged up 1.7% and 14.2% YoY, respectively.

QoQ, the volume of total exports of goods declined 2.8% in Q1. Concurrently, the volume of imports of goods decreased 2.9%.

In terms of prices, the prices of total exports of goods rose 2.3% YoY in March. The prices of imports of goods also increased 2.3%.

“Over the same period of comparison, the total export prices to all main destinations increased: Japan (3%), the Mainland (2.8%), the USA (2.4%), India (1.5%) and Taiwan (1%),” C&SD noted.